Bitcoin may fall lower but BTC power-law frames crash to $58K as ‘normal’
Bitcoin’s drop to $58,000 has pushed price back into a historical “cycle bottom” zone under long-term power-law models, though this does not confirm a bottom. The model places the trend near $135,000 and shows BTC about 54% below its all-time high and 1.22 standard deviations under trend. Similar low-range readings have marked prior major bear-market lows, while the power-law quantile has fallen to 6.2%, a level seen near past cycle bottoms. Near term, $60,000 is the key pivot. A daily close above it would support bullish RSI divergence, suggest selling pressure is fading, and open a move toward $65,000-$68,000, where short liquidations and a fair-value gap cluster. A close below $60,000 keeps the bearish bias intact and shifts attention to $55,000, with $54,000-$55,000 reinforced by realized price and prior weekly support.
